By William Gullotti
Buffalo, N.Y., March 16 – HSBC USA Inc. priced $2.35 million of 9.7% airbag autocallable yield notes due March 20, 2023 linked to the common stock of Deere & Co., according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The notes will be called at par if the shares close at or above their initial price on any quarterly observation date.
The payout at maturity will be par unless the final share price is less than the 85% conversion price, in which case investors will receive a number of shares of Deere stock equal to $1,000 divided by the conversion price.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Airbag autocallable yield notes
|
| Underlying stock: | Deere & Co.
|
| Amount: | $2,351,000
|
| Maturity: | March 20, 2023
|
| Coupon: | 9.7%, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par, unless final share price is less than conversion price, in which case 3.0206 shares of Deere stock per note
|
| Call: | Automatically at par if shares close at or above initial price on any quarterly observation date
|
| Initial share price: | $389.48
|
| Conversion price: | $331.06, 85% of initial price
|
| Pricing date: | March 11
|
| Settlement date: | March 16
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Agent: | UBS Investment Bank
|
| Fees: | 1.5%
|
| Cusip: | 40390L651
|
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